What is a tenant called who stays in the premises after the lease term has expired?

A tenant who remains in a property after the lease term has expired is referred to as an overholding tenant. This term is important in property management as it highlights a situation where the tenant continues to occupy the premises without a formal extension or renewal of the lease agreement.

Being classified as an overholding tenant can have significant implications for both the landlord and the tenant. For the landlord, it may mean that they have to take special steps to either negotiate a new lease or potentially initiate eviction proceedings if they do not wish to continue the tenancy. From the tenant's perspective, remaining on the property without an agreed-upon lease can lead to legal vulnerabilities, as their rights and obligations may be less clearly defined.

Understanding this terminology is crucial for property managers when dealing with lease expirations and tenant relations, as navigating these situations appropriately can help maintain a positive rental environment and ensure compliance with rental laws.